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Our Investment in DeBox, a Web3 Social Networking Platform with Over a Million Active Users

Published on Mar 08, 2024

Updated on Apr 25, 2024

Today, we're excited to announce our strategic investment, through our investment arm, OKX Ventures, in DeBox, a decentralized social networking platform for Web3 communities and Decentralized Autonomous Organizations (DAOs).

Over the past two years, DeBox has committed itself to serving the Web3 community, generating over 10 million posts and attracting more than 690,000 mobile users. The platform offers an array of features such as DAO formation and governance, networking and social trading opportunities, the setup of decentralized identifier (DID)-based profiles and NFT avatars, and the ability to earn tokens for publishing content, among others.

DeBox also provides a token swap solution, DeSwap, which enables users to swap tokens across seven supported blockchain networks, including Ethereum, BNB Chain, Polygon, Optimism, Arbitrum, zkSync Era and Avalanche.

Our founder at OKX Ventures, Dora Yue said: "We are driven to invest in DeBox because of its potential to revolutionize social use cases within the Web3 space, facilitating the onboarding of the next billion users. DeBox leads its community with a DAO format, enabling seamless wallet access and engagement through unique NFT avatars based on animal characters and DID names. DeBox enhances user experience with interactive DApps, promoting the sharing of ideas, content management, and providing trading or staking options.”

Our investment in DeBox is a step towards cultivating a more inclusive and interactive Web3 space, aligning with our shared vision with DeBox for a decentralized future.

Disclaimer

This article may cover content on products that are not available in your region. It is provided for general informational purposes only, no responsibility or liability is accepted for any errors of fact or omission expressed herein. It represents the personal views of the author(s) and it does not represent the views of OKX. It is not intended to provide advice of any kind, including but not limited to: (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. OKX Web3 features, including OKX Web3 Wallet and OKX NFT Marketplace, are subject to separate terms of service at www.okx.com.
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